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Apple buys internet music site Lala.com
The company has confirmed that it bought Lala.com for an undisclosed amount, a development that could lead to the addition of streaming songs and new payment systems at Apple’s iTunes
Treasury secretary challenges Goldman aid claims
Tim Geithner rejected Goldman Sachs’ claim that it could have withstood the financial crisis without government intervention, adding that all banks were at risk of being wiped out.
Galleon founder first investigated decade ago
Raj Rajaratnam, the Galleon Group founder accused of insider trading, first came under investigation by federal investigators over a decade ago but the government was unable to bring a case against him, according to newly unsealed court documents
Mandelson wades into battle for Cadbury
The UK business secretary has intervened in the battle for control of Cadbury, the UK chocolate maker, warning Kraft against ‘asset-stripping’
US publishers join forces in digital venture
Five of the US’s largest publishers will launch an independent digital venture as early as Monday as the magazine industry aims to wrestle control of its digital future away from Amazon, Apple and Sony
Hershey’s legacy is a sweet story
Hershey’s home town has turned into a subsidised community that is unique in the US after Milton S Hershey’s decision to take his inspiration from George Cadbury in a very different direction
Bonuses for performers to rise
Banking experts are predicting that bonuses for 2009 will be 35 per cent higher than they were last year, in spite of a fall in fees earned by investment banks
China looks to amass distressed auto assets
The global financial crisis has catapulted China into poll position as the world’s largest auto market, and the financial strength of China’s carmakers has made them bidders of last resort for some of the western world’s favourite distressed auto assets
GM cedes control of China venture
General Motors is to give up a crucial 1 per cent of its China passenger-car venture to its partner SAIC, the state-owned Chinese automaker, as part of a deal that will launch the two companies on a new partnership venture
Acting GM chief launches major reshuffle
Three days after sacking Fritz Henderson as chief executive, General Motors’ acting CEO Ed Whitacre put his stamp on the US carmaker with a major management reshuffle
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